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Do these people believe in their own propaganda about how economy works that austerity-led growth is possible?
Is it that they don't care about the party or their own reputation?
I hope Corbyn and the Greens don't fall for the same fiscal responsibility nonsense. Never give the neoliberals an inch.
Every proponent of austerity must honestly answer these questions: if the "goal" of austerity is to 'tighten belts' through the lean times so private capital can amass the funds to spend and therefore lift the economy out of the lean times... what is their plan if the lean times don't end? How long will austerity be imposed if it is unsuccessful? Five years? Ten years? A hundred years? Is austerity truly the only solution to the stated problem? How long is too long? Is there a point where you will admit it isn't appropriate?
Because if your answer is yes, fine, we can argue about it. If your answer is, like I suspect, no, then we have nothing to discuss.
Because I don't think they are doing austerity to fix a problem and I think they know it too. It is simply an ideologically consistent course of action and they're acting it out not to see if it works but just to do it. Because if it "works" to fix the economy, bonus, if not it's still great because it funneled wealth to the rich. It did its real job.
In any event I'm sure the ~~banker~~ labour party will figure this out
yea, its ridiculous, because when there is no Government deficit, the main determinant of profits is capitalists' investment, and to make investment they have to draw upon their savings (cash they hoard) this is finite. the only other way is going to a bank and asking for a loan. so, the only way for growth in such an environment is larger and larger amounts of credit, likely a bubble. ofc that is not likely to happen since capitalists don't take risks like that, so you just have stagnant economy. its a bit more complicated since capitalists now make up financial assets but still.
i think they are desperately trying to increase private debts and pump more safe savings of workers held in bank into stock markets.
and https://www.bbc.com/news/articles/cvgwz7vypllo
Again I don't think any of these people know how capitalism "works" outside of "use to funnel money to self." It's good at indulging that impulse - it rewards it. But it undermines itself by doing that. The eternal glimmer of a short term profit undermines any long term plan. Austerity is their version of a long term plan. Or whatever. I don't know what the fuck they're doing except bald-faced wealth transfer. It's so transparent I don't know how they spin it as anything else. It's like the horse and sparrow analogy except without the analogy so they just tell you to sift nutrients from their waste and deal with the smell of shit like a good citizen.
Edit: like @MolotovHalfEmpty@hexbear.net said in this thread they call it "austerity" like that's the plan or how they sell it to the public but it's actually a deeper wealth(and power) reshuffling